Ciena (NYSE:CIEN) issued its earnings results on Thursday. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.12, Bloomberg Earnings reports. Ciena had a net margin of 26.69% and a return on equity of 9.92%. The firm had revenue of $818.82 million during the quarter, compared to analysts’ expectations of $792.28 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year.
Shares of NYSE CIEN opened at $27.31 on Thursday. Ciena has a 52-week low of $19.40 and a 52-week high of $28.17. The stock has a market capitalization of $4.00 billion, a PE ratio of 18.33, a P/E/G ratio of 1.85 and a beta of 1.31. The company has a current ratio of 2.01, a quick ratio of 1.77 and a debt-to-equity ratio of 0.34.
Several research analysts recently issued reports on the stock. BMO Capital Markets reissued a “buy” rating and set a $28.00 target price on shares of Ciena in a report on Wednesday. Rosenblatt Securities set a $27.00 target price on shares of Ciena and gave the stock a “hold” rating in a report on Tuesday. ValuEngine upgraded shares of Ciena from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. MED lowered shares of Ciena from a “buy” rating to a “$26.20” rating and dropped their price target for the company from $29.00 to $27.00 in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Ciena from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $29.35.
In related news, CEO Gary B. Smith sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $24.59, for a total transaction of $196,720.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $23.36, for a total transaction of $46,720.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,262 shares of company stock worth $2,003,996. Company insiders own 1.38% of the company’s stock.
Ciena Company Profile
Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
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